Love Is In The Air…Even For Small Businesses!
Posted in Uncategorized on February 14th, 2012 by Bert Seither – Be the first to commentValentine’s Day, a day that began as a celebration of the one or more early Christian martyrs, Valentinus, has morphed into not only one of the most romantic days of the year, but one of the biggest gift giving days as well. All you lovebirds out there are not the only ones who benefit from today, but many businesses do as well! The National Retail Federation expects consumers to spend $17.6 billion this year on Valentine’s gifts and activities for not only their lovers, but for their friends, family members, and even their pets! In a January survey, results showed that consumers, on average, will spend $126.03 for the holiday. This is an 8.5% rise from last year and the highest amount the survey has seen in its 10 year history!
From candy shops, to restaurants, to jewelers, Valentine’s Day provides a lucrative boost of sales during the somewhat slower winter months. Central Michigan Life Magazine interviewed Mark Ellis, owner of Four Season Floral. Ellis stated that his shop sells more than 2,000 roses the week of Valentine’s Day! Wow, that’s a lot of roses for a small town, especially when compared to their average sales volume of 200 roses per week! This trend is a common one in towns and cities all across the United States, and now, the Valentine’s Day spirit seems to be catching on internationally as well!
V-day has received wide recognition from China’s younger generation, even though it is not a traditional Chinese holiday, and Chinese small business owners are ecstatic about the benefits! Florists in China reported receiving a heavy volume of orders up to two weeks before the holiday, and chocolate shops have had to increase their supplies in order to keep up! As the Valentine’s Day trend seems to be more of a staple in the country, business owners there are learning how to capitalize. For example, many restaurants in Shanghai have begun to offer discounts to those who come in “hand in hand.” Even in countries like Iran, where Western practices are strongly rejected, Valentine’s Day perseveres. Shopkeepers reported a significant increase in demand for roses, cards, and teddy bears this season.
Although candy, flowers, and fancy jewelry tend to dominate the Valentine gift-giving market, there is still opportunity for various other industries to profit. Look at your products and markets; see how you can position yourself for the Valentine’s Day consumer. For example, the pizza industry learned how cash in with no other than….the heart shaped pizza! They have actually started quite the trend; according to Google, Google searches for “heart-shaped pizzas” have increased 230% since January! Google’s report also stated that last year Papa John’s sold more than 60,000 heart shaped pizzas and expects to sell 75,000 this year!
Is your small business feeling the love? What are you offering for Valentine’s Day? Send us feedback and pictures via our Twitter, Facebook, and Google+ pages! And last but not least, Corporate Tax Network wishes everyone a very happy Valentine’s Day!










